Hyundai Motor to Increase Its Global Output to 5 Mil. This Year...Shareholders Meeting

March 17, 2017 11:16lMarch 17, 2017 15:18

Lee Won-hee, CEO of Hyundai Motor, said on March 17, "We will achieve this year's goal of producing 5.08 million cars worldwide." He said this in a regular shareholders meeting held at the company's headquarters in Seoul's Gangnam, adding, "We will keep the momentum of the successful debut of the Grandeur IG for the small-sized SUV and compact passenger car lineups."

He continued, "We will seek to expand the Genesis brand's global presence aggressively while moving into the European high-performance car market." He promised that his company would keep investing in new vehicle technologies such as electric car, next-generation hydrogen car, and self-driving vehicle.

In the shareholders meeting, Chung Mong-koo, Hyundai Motor chairman, was reelected as an internal director with a term of three years. The shareholders meeting also appointed Choi Eun-soo, legal advisor at Daeryook & Aju and former appeals court judge, as an outside director and an auditor.

Hyundai chairman Chung said in greetings in the 2016 business report distributed to the shareholders, "I will make sure to grow Genesis as a brand for which our customers feel proud. We will strengthen the lineups of the Genesis brand that has been three years since launch while expanding its presence in overseas markets."